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How to make expat money transfers cheaper and more efficient

There are many ways to transfer money between countries – how do you choose? For Alicia, after trying several services, the answer was clear.

How to make expat money transfers cheaper and more efficient
Stock photo: Pixabay

Alicia Torrecilla Cortes like to call herself a “native expat”.

“I’m originally from Andalucia and moved back here after studying in the US,” she explains. “I work in Gibraltar, and live in Spain with my English expat boyfriend, and we have lots of friends in the expat community. I have an expat lifestyle.”

Working in Gibraltar – a British Overseas Territory – Alicia receives her salary in pounds.

“But all my expenses are in Euros. So I use CurrencyFair every month to transfer the majority of my salary.”

Alicia used to shop around, trying banks and other services to transfer her salary, but she says she felt she was wasting time and money on bad exchange rates.

“A colleague recommended CurrencyFair to me, and I haven’t looked back since then,” she says.

“I originally tried it because of a €30 referral gift that I received, but since using it have found it much cheaper than the bank and much more efficient than other companies that I have used in the past.”

Now when she transfers her salary each month, she knows she’s getting the best deal.

“It’s easy to use, efficient, and extremely competitively priced,” Alicia explains. “But best of all, CurrencyFair listens to their clients, and rewards our opinions and loyalty, too!”

CurrencyFair – founded by expats- lets individuals sell currency in exchange for buying another currency from someone else. Think of it as peer-to-peer transfers. It allows people to either exchange immediately using the best rate currently available, or offer your funds at a rate of your choosing and wait for another customer to match you.

And by cutting out a middleman such as a bank, customers can save up to 90 percent.

Want to give it a go? Find out more about CurrencyFair here

This article was produced by The Local and sponsored by CurrencyFair.

 

FINANCE

Stockholm stock exchange suffers worst day of 2018

The Stockholm stock exchange plunged by 2.8 percent on Thursday, making it the worst trading day of 2018.

Stockholm stock exchange suffers worst day of 2018
File photo: Stina Stjernkvist/TT
Stock markets across Europe suffered for the third day in a row as the arrest of a top Huawei executive in Canada has raised the spectre of an all-out trade war between the US and China.
 
For the Stockholm Stock Exchange, it meant a blood-red trading day that ended as the worst of the year thus far. The OMXS Stockholm 30 index fell by a combined 2.8 percent.
 
The majority of the companies on the index lost value, with the exception of Ericsson, which seemed to benefit from the news about its Chinese competitor Huawei with a 1.8 percent increase. Airline SAS also saw its stock increase, rising 4.2 percent thanks to sharp declines in oil prices. 
 
Among Thursday’s biggest losers was the mining company Boliden, which suffered a 6.1 percent drop. The stock of the Stockholm-based tech company Hexagon fell 5.6 percent.
 
Meanwhile, the stock of Swedish auto safety equipment manufactor Autoliv fell 6.1 percent on the news that it expects to pay some 1.8 billion kronor in fines as a result of an European Commission investigation into anti-competitive behavior in the EU. 
 
Stockholm was far the only European bourse to have a gloomy Thursday. The CAC index in Paris fell 3.3 percent, the DAX index in Frankfurt dropped 3.5 percent and the London Stock Exchange's FTSE index decreased by 3.2 percent.
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